The FTSE 100 has really kicked on and is up 0.6% for the session at 7187

15:07

Larry Kudlow helps shares get off to a flyer over in the States

The S&P 500 is already up 0.42% to 2,758 while the Dow Jones Industrial is up 0.4% to 24,973

13:10

FTSE 100 up 0.16% to 7,150

11:55

Nex Group shares up 30% to 867p

Shares in electronic trading firm Nex Group have rocketed 30% on news it has been approached by US financial firm CME about a takeover.

Nex is headed by Michael Spencer, the former Conservative Party treasurer. The FTSE 250 firm has a market capitalisation of over £3 billion.

11:25

Blackrock signs up Aviva boss

The world's biggest asset manager BlackRock has elected three new independent directors to its board, including executives from Microsoft and Aviva.

The new directors are Bill Ford, the CEO of private equity firm General Atlantic, Peggy Johnson, the executive vice president of business development at Microsoft, and insurer Aviva's chief executive Mark Wilson.

"The three new directors' global perspective and combined expertise in technology, financial services and fast-growing markets, such as Asia-Pacific, reflects BlackRock's current and future priorities," the company said in a statement.

11:19

Some views on Berkeley

Helal Miah, investment research analyst at The Share Centre -

“Berkeley themselves have said that the limit to production will be a blow to the housing market because of the need for so many more homes. The London market has fared the worst since Brexit and should this spill over to the rest of the market then it will be big blow to the government as limited production will do nothing to bring house prices to more affordable levels. As the shares of housebuilders have been recovering from the Brexit fallout, we have been expressing our caution on the sector and as a result of this and today’s update, we continue to recommend Berkeley as a ‘hold’. Investors should note nonetheless that shares in the sector will for the time being continue to return strong cash flows back to investors through dividends.”

10:08

Housebuilder not willing to build more homes

Berkeley is not planning to increase levels of housebuilding due to economic uncertainty, a fall in buy to let investment and increased planning ‘red tape’ it said today.

While it said market conditions in its main market London and the South East are unchanged from the first half, it added that high transaction costs, the 4.5 times income multiple limit on mortgage borrowing and "prevailing economic uncertainty" mean Berkeley is "unable to increase production beyond the business plan levels".

09:57

Pound edging up near the 1.40's again

Sterling is up 0.25% today to $1.3970

09:30

Mitie says its turnaround is going well

Outsourcer Mitie has said it will deliver higher cost savings than previously thought as it conitues with its turnaround effort.

The group, which has issued a string of profit warnings, said that its transformation plan will now see it trim costs by £50 million a year by 2020, a 10% increase.

Mitie is simplifying its corporate structure, outsourcing and automating some back office functions, merging its London offices into one and overhauling its IT.

08:33

Wetherspoons books another profit rise

From the PA-

JD Wetherspoon has posted a rise in half-year profit, but warned that sales will be lower over the next six months as the pubs chain is hit with rising costs.

The group posted a 36.1% rise in pre-tax profit to £54.3 million in the 26 weeks to January 28, with revenue rising 3.6% to £830.4 million.

The pub chain said like-for-like sales rose 6.1% in the period, but chairman Tim Martin said that growth in comparable sales will be lower in the next six months as it stomachs an array of costs.

"The company anticipates higher costs in the second half of the financial year, in areas including pay, taxes and utilities," he said.

"In view of these additional costs, and our expectation that growth in like-for-like sales will be lower in the next six months, the company remains cautious about the second half of the year."

On current trading, Wetherspoon saw like-for-like sales increase 3.8% in the six weeks to March 11 and total revenue grow 2.6%, leading the group to maintain full-year expectations.

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